Global Screening Services (GSS), a London, UK-based RegTech company, raised $45M in funding.
The round was led by AlixPartners, The Cynosure Group, and MUFG. Randal Quarles, chairman and co-founder of The Cynosure Group, and former Vice Chairman of the Federal Reserve System and Chairman of the Financial Stability Board, has joined the GSS board. William Langford, Global Head of Financial Crimes Compliance and Chief Compliance Officer for the Americas at MUFG, will serve as an observer to the GSS Board.
The company intends to use the funds to accelerate growth, expand operations and its business reach.
Led by CEO Tom Scampion, GSS provides an industry collaboration platform to improve compliance standards, by enhancing and exchanging information. The platform leverages technology, including artificial intelligence, and an ecosystem of financial institutions and industry partners to provide streamlined compliance screening for sanctions.
In October a partnership with Swift was announced, which will provide expertise on security and data privacy, along with sanctions screening support. Incubated by AlixPartners since 2021, GSS is now a standalone company with over 140 people supporting the business on a full-time basis.
FinSMEs
23/01/2023